Patheon Losses Continue

10:54 AM MDT | September 21, 2007 | Chemical Week Editorial Staff

Contract manufacturer and research organization Patheon (Mississauga, ON) recorded a net loss for the second quarter ending July 31 of $63.1 million, compared with a net loss of $257.2 million for the year-ago period. Sales dropped 2%, to $175 million. The company says it has been struggling financially due to significant manufacturing problems. Patheon says for the quarter it has taken a $48.6- million, non-cash asset impairment charge for depreciable intangible assets and tangible capital assets relating to its Carolina, PR...